India cbank: freer foreign bank entry undecided

MUMBAI, Sept 10 (Reuters) – India’s central bank is unable to decide on precise timeframe for freer entry of foreign banks into the country, its governor Duvvuri Subbarao said at a banking conference on Thursday.
The central bank was widely expected to review rules this year to liberalise the entry and operations of foreign banks in India.
Subbarao said the central bank would need to unwind its monetary policy at an appropriate time, but had no clear idea on this as yet.
(Reporting by Saikat Chatterjee and V. Ramakrishnan) ((anurag.joshi@thomsonreuters.com; Tel: +91 22 6636 9038; Reuters Messaging: anurag.joshi.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: INDIA CBANK/FOREIGN